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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: Susan G who wrote (13414)	12/14/2001 2:44:26 AM
From: stockman_scott	Read Replies (1) of 99280

Fortune Magazine on Why Enron Went Bust... fortune.com Start with arrogance. Add greed, deceit, and financial chicanery. What do you get? A company that wasn't what it was cracked up to be. _____________________________________________ Here's an interesting passage from the multi-page article... <<...In any conversation about Enron, the comparison with Long-Term Capital Management invariably crops up. In some ways, it looks as if the cost of the Enron debacle is far less than that of LTCM--far less than anyone would have thought possible, in fact (see next story). But in other ways the cost is far greater. Enron was a public company with employees and shareholders who counted on management, the board, and the auditors to protect them. That's why one senior Wall Streeter says of the Enron saga, "It disgusts me, and it frightens me." And that's why, regardless of how the litigation plays out, it feels as though a crime has been committed...>>

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